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Seven jailed in mortgage fraud scam

A gang of seven fraudsters have been sent to jail and four more handed suspended sentences for 15 counts of mortgage fraud lasting more than 13 years.

The criminal gang was masterminded by Michael Creamer, 46, who received a four year and two months prison sentence.

His wife Anita Creamer, 45, was also sent to jail for two years for lying to building societies to get mortgages for properties in Conwy.

The Daily Post reports that some of the houses were then sold on using one fraudulent mortgage after another, in a long running criminal operation.

A judge told Michael Creamer he had led “a persistent, carefully planned and professional executed” mortgage fraud.

Reports say Creamer’s main partner in crime was mortgage broker Stephen Jones, who made 23 of the 24 fraudulent mortgage applications involved in four conspiracies between 1995 and 2008.

Jones, 52, was trusted by building societies but he breached that trust time after time, said Judge John Rogers QC.

He was locked up for two years and six months

Jones was locked up for two years six months as he’d pleaded guilty.

Others jailed include Robert will who was sentenced to 15 months and David Will who was sentenced for 15 months.

There was also Michael Spencer jailed for 12 months and Patrick Kirkwood for 15 months.

Jean Kirkwood, Bradley Hughes, Kayleigh Edwards and Nicolas Eagan also received 40 weeks suspended sentences for two years.

They covered 24 fraudulent application in respect of 11 different properties in the Conwy area. Judge Rogers said the loss to the building societies was £190,000.

Michael Creamer, Anita Creamer and another co-conspirator, Michael Spencer, had all pleaded not guilty, but the judge said the evidence was “overwhelming” against them.

The other eight people all pleaded guilty.

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  • Glen McKeown 18th December 2010 at 10:06 am

    1. Does anyone agree with the proposition that taking exams would have stopped this because it would have improved their ethics – that has been implied by the FSA.
    2. Given the regulatory regime in place, why did it take 13 years to catch these people. Could it be that the FSA and the Financial Institutions are so focused on the the processes and the book keeping they have ignored was is happening in the real world.

  • steve mcgill 17th December 2010 at 4:18 pm

    lock them up and throw away the key

    no punishment is too harsh for these money grabbing scum buckets